Greenbacker buys commercial solar platform Sunrock DG
- Greenbacker Development Opportunities Fund I LP, a middle-market private equity fund managed by Greenbacker Capital Management LLC, has made a financial investment of an undisclosed amount in commercial solar and storage space platform Sunrock Distributed Generation.
Sunrock DG is a funding and asset aggregation platform for commercial and industrial (C&I) solar and power storage space projects across the United States. It focuses on smaller-scale commercial solar projects for businesses, districts and non-profits.
The investment by Greenbacker will certainly boost Sunrock DG's capacity to provide financing for small and medium businesses (SMBs) seeking to go solar, while also helping it expand its project pipe, the statement says.
The business was established by a team of professionals that includes Claire Broido Johnson, who formerly co-founded SunEdison.
"The solar market has actually been inefficient at offering middle-market commercial customers for the last twenty years. With our partnership with Greenbacker and our deep network of programmer partners, we're anticipating bringing even more thoughtful funding structures to this underserved section of the market," Johnson commented.
